Prior to our purchase, one of the questions that my wife and I had been thinking over and over again is whether it is worth buying The Terrace Executive Condominium (EC). We are certainly not buying for investment purposes but then again, as a wealth builder, you would want a home with potential to appreciate in value significantly over the long run. In Punggol and Sengkang residential areas, we shortlisted three ECs for consideration and they are The Vales, Bellewaters and The Terrace EC, which is known famously as “Venice of Punggol”.
In terms of location, The Vales is considered the best among the three because it is located within walking distance to the SengKang MRT. However, as an upgrader, we need to pay the resale levy for The Vales, hence this project is not an option for us. Then again, we also noted that virtually most of the good-facing units have been sold. Those remaining unsold are either road-facing or facing the nearby SengKang Hospital. To make things worse, the recently launched EC, Treasure Crest is located just beside The Vales. Thus, the residents of The Vales will have to put up with the incessant noise and dust pollutions for at least 3 years after moving into their new homes.
In terms of interiors, Bellewaters is slightly better than The Terrace and there is no need to pay for the resale levy. We would have purchased this project if not for the fact that the Temporary Occupation Permit (TOP) is earlier than my Minimum Occupation Period (MOP). But beyond these points, wealth builders need to look at the big picture level, SengKang ECs lose out to Punggol ECs for the lack of major developmental projects that cater to lifestyle needs.
Eventually, we are glad to purchase The Terrace for several key reasons. Among them is the fact that The Terrace is the only EC fronting the Punggol Waterway, which is the centre-piece of “Punggol Waterfront Living”. The Waterway is a 4.2km water path that runs through the estate and is the iconic feature for the town as the government aims to transform Punggol into the first Eco-Town in Singapore. It offers an amazingly scenic environment for young families to not only de-stress from the busy urban city life, but also allows many recreational activities.
The Terrace is segregated into three tiers, namely the Active Tier, The Leisure Tier and The Tranquil Tier. Facilities include a waterfront facing gym, games room, karaoke room and an origami pool. In addition, another attraction is the newly opened $57 million SAFRA club which houses an entertainment water playground for children as well as a huge childcare centre. The SAFRA is located within walking distance from The Terrace and it will further [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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